Dun & Bradstreet Reaffirms

Dun & Bradstreet (DNB) reported 3rd Quarter September 2016 earnings of $1.79 per share on revenue of $412.8 million. The consensus earnings estimate was $1.75 per share on revenue of $423.8 million. Revenue grew 1.6% on a year-over-year basis.

The company said it continues to expect 2016 earnings of $7.11 to $7.47 per share on revenue of $1.73 billion to $1.76 billion. The current consensus earnings estimate is $7.40 per share on revenue of $1.72 billion for the year ending December 31, 2016.

Dun & Bradstreet Corp is a source of commercial information and insight on businesses.

Dun & Bradstreet (DNB) reported results for the third quarter
ended September 30, 2016 of GAAP revenue up 2% year over year, after the
effect of foreign exchange (up 3% before the effect of foreign
exchange). As Adjusted and organic revenue both flat year over year,
after the effect of foreign exchange (up 1% before the effect of foreign
exchange).

"We are continuing to execute against our strategy and are leveraging
our multi-channel go-to-market approach to drive adoption of our more
modern, as-a-service offerings" said Bob Carrigan, CEO of Dun &
Bradstreet. "We remain focused on providing our leading commercial data
and analytics to our customers when and where they need them, while
driving long-term, sustainable growth for the Company."

Quarter Ended

AFX

BFX

September 30,

% Change

% Change

(Amounts in millions, except per share data)

2016

2015

Fav (Unfav)

Fav (Unfav)

GAAP Revenue

$

412.8

$

406.2

2%

3%

As Adjusted Revenue

$

412.8

$

414.2

0%

1%

Organic Revenue

$

412.8

$

414.2

0%

1%

GAAP Operating Income(1)

$

96.8

$

85.0

14%

As Adjusted Operating Income

$

107.3

$

106.0

1%

GAAP Diluted Earnings (Loss) Per Share(2)

$

(0.80 )

$

1.62

N/M

As Adjusted Diluted Earnings (Loss) Per Share

$

1.79

$

1.84

(3)%

Year-To-Date

Sept 30,

Sept 30,

2016

2015

Net Cash Provided By Operating Activities - Continuing Operations

$

280.0

$

283.5

(GAAP)

Free Cash Flow

$

232.1

$

240.1

(1) Quarter ended September 30, 2015 includes the

writedown of $8 million in deferred revenue from acquisitions

completed in 2015.

(2) Quarter ended September 30, 2016 includes a $2.43

non-cash loss associated with the sale of operations in Benelux and

Latin America.

GAAP net income for the third quarter ended September 30, 2016 included
a non-cash loss of $89.6 million associated with the conversion of our
Latin America and Benelux operations into Worldwide Network
partnerships. The non-cash loss was driven almost entirely by
accumulated currency translation.

See attached Schedules 5 and 6 for a reconciliation of As Adjusted
metrics to GAAP results, as well as the definitions of the non-GAAP
financial measures that the Company uses to evaluate the business.

Deferred revenue for the Company as of September 30, 2016 was $580.5
million, flat year over year; Americas was $520.2 million, up 6% year
over year and Non-Americas was $60.3 million, down 33% year over year.
After adjusting for the effect of foreign exchange, dispositions of our
Benelux and Latin America operations and the impacts of the write-down
of deferred revenue due to purchase accounting, total Company deferred
revenue was up 3%, Americas was up 4% and Non-Americas was down 4%, each
as compared to last year.

Third Quarter 2016 Segment Results

Americas

•
GAAP revenue of $338.8 million, up 3% year over year both after and
before the effect of foreign exchange; As Adjusted and organic revenue
of $338.8 million, up 1% year over year both after and before the
effect of foreign exchange;

•
GAAP operating income of $100.6 million, up 16% year over year; As
Adjusted operating income of $107.2 million, up 6% year over year.
GAAP operating income growth reflects the impact of $8 million in
acquisition-related deferred revenue adjustments incurred in the third
quarter of 2015.

Non-Americas

•
GAAP revenue, As Adjusted revenue, and organic revenue of $74.0
million, down 5% year over year after the effect of foreign exchange
(up 2% before the effect of foreign exchange);

•
GAAP operating income of $20.0 million, down 12% year over
year. As Adjusted operating income of $20.1 million, down 11% year
over year.

See attached Schedules 3, 4, 5, and 6 for additional detail.

Full Year 2016 Guidance

Dun & Bradstreet today reaffirmed its financial guidance for the full
year 2016:

•
As Adjusted organic revenue growth of 11/2% to 31/2%, before the effect of
foreign exchange;

•
As Adjusted revenue growth of 4% to 6%, before the effect of foreign
exchange;

--
As Adjusted operating income growth of 1% to 5%;

--
As Adjusted diluted EPS of (2%) to 3% versus prior year; and

•
Free cash flow of $255 million to $285 million, which excludes the
impact of legacy tax matters and any potential regulatory fines
associated with our China operations.

Dun & Bradstreet does not provide guidance on a GAAP basis because Dun &
Bradstreet is unable to predict, with reasonable certainty, the future
movement of foreign exchange rates or the future impact of: (i) non-core
gains and charges, (ii) acquisition and divestiture-related fees; and
(iii) purchase accounting fair value adjustments to deferred revenue.
These items are uncertain and will depend on several factors, including
industry conditions, and could be material to Dun & Bradstreets results
computed in accordance with GAAP.

Use of Non-GAAP Financial Measures

In addition to reporting generally accepted accounting principles in the
United States of America ("GAAP") results, the Company evaluates
performance and reports on a total company basis and on a business
segment level basis its results (such as revenue, operating income,
operating income growth, operating margin, net income, tax rate and
diluted earnings per share) on an "As Adjusted" basis. The term "As
Adjusted" refers to the following: the elimination of the effect on
revenue due to purchase accounting fair value adjustments to deferred
revenue; restructuring charges; other non-core gains and charges that
are not in the normal course of our business (such as gains and losses
on sales of businesses, impairment charges and material tax and legal
settlements); acquisition and divestiture-related fees (such as costs
for bankers, legal fees, diligence costs and retention payments); and
acquisition-related intangible amortization expense. A recurring
component of our "As Adjusted" basis is our restructuring charges, which
we believe do not reflect our underlying business performance. Such
charges are variable from period to period based upon actions identified
and taken during each period. Additionally, our "As Adjusted" results
exclude the results of Discontinued Operations.

We also isolate the effects of changes in foreign exchange rates on our
revenue growth because we believe it is useful for investors to be able
to compare revenue from one period to another, both after and before the
effects of foreign exchange. The change in our operating performance
attributable to foreign currency rates is determined by converting both
our prior and current periods by a constant rate. As a result, we
monitor our "As Adjusted" revenue growth both after and before the
effects of foreign exchange.

We also analyze "As Adjusted" revenue growth on an organic basis because
management believes this information provides important insight into the
underlying/ongoing performance of the business. Organic revenue
excludes: (1) revenue from acquired businesses for one year from the
date of the acquisition and (2) net divested revenue which we define as
the historical revenues from the divested businesses net of the annual
ongoing future revenue streams resulting from the commercial
arrangements entered into in connection with such divestitures.

We may from time to time use the term "sales", which we define as the
value of committed customer contracts. This term is often referred to as
"bookings" or "commitments" by other companies.

We also monitor free cash flow as a measure of our business. We define
free cash flow as net cash provided by operating activities minus
capital expenditures and additions to computer software and other
intangibles. Free cash flow measures our available cash flow for
potential debt repayment, acquisitions, stock repurchases, dividend
payments and additions to cash, cash equivalents and short-term
investments. We believe free cash flow to be relevant and useful to our
investors as this measure is used by our management in evaluating the
funding available after supporting our ongoing business operations and
our portfolio of investments.

We also monitor deferred revenue after adjusting for the effect of
foreign exchange, dispositions, acquisitions and the impacts of the
write-down of deferred revenue due to purchase accounting.

We believe that the use of our non-GAAP financial measures provides
useful supplemental information to our investors. Non-GAAP results are
presented only as a supplement to the financial statements presented in
accordance with GAAP. The non-GAAP financial information is provided to
enhance the readers understanding of our underlying financial
performance. These non-GAAP financial measures should be reviewed in
conjunction with the relevant GAAP financial measures and are not
presented as an alternative measure of revenue, operating income,
operating margin, net income, diluted EPS or net cash provided by
operating activities as determined in accordance with GAAP.

Reconciliations of these non-GAAP financial measures to the most
directly comparable GAAP financial measures and related notes are
presented and defined in Schedules 5 and 6 attached to this press
release.

Third Quarter 2016 Teleconference

As previously announced, Dun & Bradstreet will review its third quarter
2016 results in a conference call with the investment community on
Wednesday, November 2, 2016, at 8 a.m. ET. Live audio, as well as a
replay of the conference call will be accessible on Dun & Bradstreets
Investor Relations Web site at http://investor.dnb.com.

About Dun & Bradstreet(R)

Dun & Bradstreet (DNB) grows the most valuable relationships in
business. By uncovering truth and meaning from data, we connect our
customers with the prospects, suppliers, clients and partners that
matter most, and have since 1841. Nearly ninety percent of the Fortune
500, and companies of every size around the world, rely on our data,
insights and analytics. For more about Dun & Bradstreet, visit DNB.com
Twitter: @DnBUS.

Forward-Looking and Cautionary Statements

We may from time-to-time make written or oral "forward-looking"
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended, including statements contained in filings with the
Securities and Exchange Commission, in reports to shareholders and in
press releases and investor Web casts. These forward-looking statements
include, without limitation, any statements related to financial
guidance or strategic goals. These forward-looking statements can also
be identified by the use of words like "anticipates," "aspirations,"
"believes," "commits," "continues," "estimates," "expects," "goals,"
"guidance," "intends," "plans," "projects," "strategy," "targets,"
"will" and other words of similar meaning. They can also be identified
by the fact that they do not relate strictly to historical or current
facts.

We cannot guarantee that any forward-looking statement will be realized.
Achievement of future results is subject to risks, uncertainties and
inaccurate assumptions. Should known or unknown risks or uncertainties
materialize, or should underlying assumptions prove inaccurate, actual
results could vary materially from those anticipated, estimated or
projected. Investors should bear this in mind as they consider
forward-looking statements and whether to invest in, or remain invested
in, our securities.

In connection with the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995, we are identifying the
following important factors that, individually or in the aggregate,
could cause actual results to differ materially from those contained in
any forward-looking statements made by us; any such statement is
qualified by reference to the following cautionary factors: (i) reliance
on third parties to support critical components of our business model;
(ii) our ability to protect our information technology infrastructure
against cyber-attack and unauthorized access; (iii) risks associated
with potential violations of the Foreign Corrupt Practices Act and
similar laws; (iv) customer demand for our products; (v) the successful
implementation of our business strategy; (vi) the integrity and security
of our global database and data centers; (vii) our ability to maintain
the integrity of our brand and reputation; (viii) our ability to renew
large contracts and the related revenue recognition and timing thereof;
(ix) the impact of macro-economic challenges on our customers and
vendors; (x) future laws or regulations with respect to the collection,
compilation, storage, use, cross-border transfer and/or publication of
information and adverse publicity or litigation concerning the
commercial use of such information; (xi) our ability to acquire and
successfully integrate other businesses, products and technologies;
(xii) adherence by third-party members of our Dun & Bradstreet Worldwide
Network, or other third parties who license and sell under the Dun &
Bradstreet name, to our quality standards and to the renewal of their
agreements with Dun & Bradstreet; (xiii) the effects of foreign and
evolving economies, exchange rate fluctuations, legislative or
regulatory requirements and the implementation or modification of fees
or taxes to collect, compile, store, use, transfer cross-border and/or
publish data; and (xiv) the other factors described under the headings
"Risk Factors," "Managements Discussion and Analysis," "Legal
Proceedings" and elsewhere in our Annual Report on Form 10-K, our
Quarterly Reports on Form 10-Q and the Companys other reports or
documents filed or furnished with the Securities and Exchange Commission.

It should be understood that it is not possible to predict or identify
all risk factors. Consequently, the above list of important factors and
the Risk Factors discussed in Item 1A. of our Annual Report on Form 10-K
and in our Quarterly Reports on Form 10-Q should not be considered to be
a complete discussion of all of our potential trends, risks and
uncertainties. Except as otherwise required by federal securities laws,
we do not undertake any obligation to update any forward-looking
statement we may make from time-to-time.